Efforts by Nigeria’s central bank, the Central Bank of Nigeria (CBN), to encourage Nigerians to adopt its cashless policy has received a major boost following the introduction a new promo by Guaranty Trust Bank Plc (GTBank), a major commercial bank in the country.
The promo, which GTBank presented as its efforts in support of CBN’s cashless policy, will bring about an improvement in the use of Point of Sale (PoS) terminals by Nigerians when making payments for goods or carrying out other forms of transactions.
In a statement issued GTBank, the promo, themed ‘Get Cash Back on your Card with POS purchases’, will run from November 2012 to the end of January 2013.
Explaining how customers will participate in the promo, GTBank said to be eligible, customers who have the bank’s Naira Mastercard must use PoS terminals for a minimum of five times each month on PoS terminals. Once they’ve qualified, they would be rewarded on every purchase made.
“We would like to tell our customers that they will get cash back on their cards when they use their GTBank Naira Mastercard on any PoS terminal in Nigeria such as supermarkets, stores, filling stations, hotels and restaurants.
“Use your GTBank Naira Mastercard a minimum of 5 times each month on PoS terminals and start earning cash rewards on each purchase. You will receive cash back on your card on all purchases made with your card during the month. Promo starts November 1, 2012 and ends January 31, 2013,” the statement said.
The bank is also supporting the cashless policy with the recent expansion of the number of its electronic branches to 23. The e-branches are operated on self-service basis where the bank’s customers carry out more than 65 per cent of their banking activities without the usual banking hall.
The e-branches allow flexibility and convenience since customers are in control of how and when banking transactions are carried out.